Long once price enters the zone marked in Pink, Institutional Demand as the prices gapped from the zone , indicating huge unfulfilled buy orders
stop loss once it pierces pink
target 1 : 3
TSLA trade ideas
Tesla Making WavesTesla has been moving steadily following a wave like pattern over the last three years. This involves rising wave followed by channel movement. The movement of the stock one direction or the other is very swift indicating high volatility of the stock. The weekly charts show a similar trend. The RSI is currently oversold and long term trends show a slow down in the strength.
I will short at this position, with a downward potential upto 174. 240 would be stop loss for this stock.
